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Keeping the Party under Control - Anniversary Comments on Monetary Policy - speech by Rachel Lomax
Speaking to the British Hospitality Annual Luncheon in London, Rachel Lomax said "the UK emerged from the slowdown in the world economy with less slack than other economies. That is the key reason why we were the first to start raising interest rates".
Published on
01 July 2004
She argues that monetary policy makers should be "taking action at the first sign of trouble, and preferably before…if we delay taking action until inflation has taken off, it will be more difficult to bring it down again without causing the economy to slow sharply."
Press release